Auburn president says more than half of Malzahn's new contract is guaranteed

Auburn head coach Gus Malzahn looks on during Auburn’s final full practice for the Peach Bowl on Dec. 30, 2107, in Atlanta, Ga.

AUBURN — Auburn President Steven Leath confirmed football coach Gus Malzahn’s contract extension is not signed by either party but more than half of the $49 million is guaranteed.

Malzahn’s extension, which was reportedly agreed upon a day after the Southeastern Conference Championship Game, is reportedly a seven-year, $49 million contract but Leath confirmed Friday that the money isn’t fully guaranteed. Following the introductory news conference for new athletic director Allen Greene, Leath said the “broad outlines” of the deal with Malzahn have been verbally agreed upon.

“I’m still a trust guy,” Leath said. “Gus and I are functioning well together. We know the basic tenets, we’ve drawn things up and sent it to his attorney. So we’ll get that cleaned up pretty soon.”

Sources familiar with the contract negotiations confirmed to the Montgomery Advertiser that the extension is seven total years and a significant raise from the $4,726,960 that Malzahn received this past season that didn’t include bonuses for winning the SEC’s Western Division and reaching a New Year’s Six bowl game.

The contract also includes a bigger buyout if Auburn terminates the deal before its conclusion. Leath’s comments Friday suggest that buyout figure is at least $24.5 million right now, if not more.

I’m still a trust guy. Gus and I are functioning well together. We know the basic tenets, we’ve drawn things up and sent it to his attorney. So we’ll get that cleaned up pretty soon.

Auburn president Steven Leath on Gus Malzahn’s new contract extension.

Malzahn, who was one win away from his second SEC title on Dec. 2 and Auburn’s first trip to the playoffs, had been the source of several reports regarding the opening at Arkansas. Malzahn was was born in Arkansas, became a walk-on wide receiver for the Razorbacks and is a member of the state Hall of Fame for a historic high school coaching career.

Malzahn was in attendance for Greene’s news conference Friday where he addressed the possibility of sitting down with the university’s new athletic director about a potential on-campus football-only facility that is high on Malzahn’s agenda.

“In due time, we’ll sit down and we’ll talk about the whole football situation, as far as facilities and everything that goes with that,” Malzahn said. “I’m really excited to have Allen here. He’s going to do a super job. He’s got a dynamic personality. He’s got dynamic vision, for not just football, but Auburn athletics. I really feel like our students are going to be excited, our student-athletes are going to be excited, and it’s a great fit right now.”

Greene joked during the news conference that Malzahn had already talked to him about getting the fundraising started for such a project as soon as possible.

“I know some of the facilities that are on the docket,” Greene said. “I’ve seen kind of the long-range plan, but I’m going to sit there and evaluate it, talk to the staff, talk to the coaches and try to formulate a plan that the Auburn family can hit out of the box, then go and raise some money.”

Texas A&M coach Jimbo Fisher, left, and Auburn coach Gus Malzahn are interviewed the morning before the College Football Playoff National Championship Game in Atlanta, Ga., on Monday January 8, 2018. (Mickey Welsh / Montgomery Advertiser)

With Kevin Sumlin, Bret Bielema and Dan Mullen all changing jobs in the SEC, Malzahn is now tied for the second-longest tenured head coach in the SEC with Kentucky’s Mark Stoops. Nick Saban’s current 11-year stretch at Alabama is the second-longest of any Power 5 conference program behind only Iowa’s Kirk Ferentz. Malzahn is also the only current SEC head coach to defeat Saban after Auburn won the Iron Bowl in 2017.

Jimmy Sexton, Malzahn’s agent, has been busy once again this offseason as the college football coaching carousel begins has been circling. Jimbo Fisher, a Sexton client, left Florida State for Texas A&M.

“Something that I appreciate with this opportunity is having a chance to sit down with coach Malzahn. I think the world of him,” Greene said. “Incredibly humble. Wants to win. Wants to win the right way. I’m really looking forward, Gus, to working with you and supporting you to the best of my ability.”